Page 6 of 10 FirstFirst ... 2345678910 LastLast
Results 76 to 90 of 138

Thread: South Street Seaport Neighborhood Development

  1. #76

    Default

    Downtown Express


    Volume 21, Number 19 | The Newspaper of Lower Manhattan | Sept. 12 -18, 2008

    Seaport firm talks tower, school and greenmarket
    By Julie Shapiro


    General Growth Properties may combine a school with a community center in the redevelopment of Pier 17.

    G.G.P. has already offered the community a 30,000-square-foot community center in the building where the “Bodies” exhibit sits and is examining population projections to decide if a new school is necessary.

    On Tuesday, Michael McNaughton, a vice president at G.G.P., floated the idea of combining the two community amenities in a space that would be a school during the day and a community center at night. But he quickly added that was only one option and he recognized the need for a 24/7 community center. He said that keeping the amenities separate was also possible.

    McNaughton spoke to two reporters after a meeting of Community Board 1’s Seaport Committee, where board members discussed General Growth’s proposed development but did not ask much about the school. General Growth wants to build a 495-foot condo and hotel tower just north of the pier, move the landmarked Tin Building to Pier 17’s tip and build lower-rise retail and a boutique hotel on the pier.

    General Growth is planning to expand the greenmarket in the Fulton Market building. The market, one of the uses desired by many residents, opened briefly earlier this summer and is scheduled to reopen with more stalls soon. McNaughton said the community should support the produce vendors to show General Growth that the market is a good idea.

    “If this thing flops, it’ll be Yankee T-shirts and bonsai trees,” McNaughton said after the meeting.

    Earlier, when board members asked about news reports questioning General Growth’s finances, McNaughton said the firm’s ability to build it is so certain that it is a moot point. He later said G.G.P. has shuttered other retail projects around the country because the markets in those towns “experienced tremendous slowdowns.” He said General Growth would not build the Seaport project without having some tenants in place.

    McNaughton spent much of the Seaport Committee meeting defending the project to several skeptical committee members, who were particularly concerned about the height of the tower. The tower will not block views of the Brooklyn Bridge from 117 Beekman St., St. Margaret’s House or Southbridge Towers, but those buildings will lose a slice of their view of the waterfront and Brooklyn.

    When the committee members asked McNaughton to shrink the tower without making it any wider, McNaughton said a change like that would come with a tradeoff.

    “If the project gets smaller, my wallet gets smaller,” he said, meaning that General Growth would have fewer community amenities to offer.

    McNaughton will have plenty more chances to debate these points with the community, as he estimates that the project is six to seven years away from opening.

    General Growth’s next presentation to C.B. 1 will be at the Landmarks Committee on Sept. 17. G.G.P. needs Landmarks approval to demolish the Pier 17 mall, move the Tin Building and erect new structures on Pier 17.

    The project will go to the city’s Landmarks Preservation Commission in October.


  2. #77

    Default

    New York Sun

    Changes Sought in Plans For South Street Seaport

    By PETER KIEFER, Staff Reporter of the Sun | September 15, 2008

    Plans by the developer General Growth Properties to transform the South Street Seaport into a mixed-use retail, residential, and hotel destination are being targeted today by area residents and the local City Council member, Alan Gerson.

    "I guess, fundamentally, we want to get a sense of how flexible they are in working with us to make changes to better enhance the historic character of the seaport. And come up with a more financially viable model," Mr. Gerson said in an interview.

    Mr. Gerson — who said he will not support the plan in its current form — is holding a hearing today on General Growth Properties's plans to replace the James Rouse-built Pier 17 marketplace pavilion, as well as two Fulton Fish Market structures between Fulton and Beekman streets, with a mixed-use complex that would include a 42-story hotel and apartment tower.

    "My concern is that the plan does not accentuate or enhance the unique flavor and historic character of the seaport. Specifically, I have problems with the height of the tower, and the lack of sufficient public space."

    General Growth has been trying to court public opinion for the project by sponsoring a free exhibit, "Seaport Past & Future," at a building on Front Street.

    General Growth will be seeking approval from the Landmarks Preservation Commission this fall before entering into the city's land use review process.

    The developer's plan does include a community center and it has said it would consider offering to build a school as a cultural amenity to help win support.

    "General Growth Properties looks forward to sharing its vision with the community," a spokesman for the company said.

  3. #78

    Default

    October 23, 2008

    Ice Rink Mania Sweeps NYC


    Rendering of Seaport Ice.

    Clearly jealous of all the media attention bestowed upon the forthcoming ice rink at the Natural History Museum, the South Street Seaport has announced today that they're going to have an awesome ice rink too, you know. The Seaport Ice rink will be opening on November 28th (running through February 28th). 8,000 square-feet of ice will be open from 10 a.m. to 10 p.m., seven days a week, with admission rates at $5 and rentals at $7. So for $12 you can skate in circles while overlooking the East River, which used to have free ice skating once upon a time.
    Meanwhile, the AMNH has released more information on their own rink, saying it will open to the public on November 22nd (also open through 2/28). Picture this: "Skaters will glide around a 17-foot-tall polar bear made of openwork stainless steel festooned with pine boughs and twinkling lights. Engaging facts about polar bears and the Earth’s polar regions, as well as 'green' tips and suggestions, will surround the rink."

    The Polar Rink is 150 by 80 feet, fitting up to 200 skaters, and admission will range from $6-10.

    http://gothamist.com/2008/10/23/ice_...sweeps_nyc.php

    2003-2008 Gothamist LLC.

  4. #79

    Default

    Quote Originally Posted by NYC4Life View Post
    Changes Sought in Plans For South Street Seaport

    Plans by the developer General Growth Properties to transform the South Street Seaport into a mixed-use retail, residential, and hotel destination are being targeted today by area residents and the local City Council member, Alan Gerson.

    "My concern is that the plan does not accentuate or enhance the unique flavor and historic character of the seaport. Specifically, I have problems with the height of the tower, and the lack of sufficient public space."

    Sufficient public space for whom, Alan? It seems that my city council member is running his mouth again. While I am not a fan of GG's fugly tower design, the plan has more -- and far, far better situated -- public space than the current shopping mall. Does Alan prefer that we preserve the mall? I am all for extorting school space from the developer in exchange for the zoning variances -- when you ask from the public and you should give something back -- but here Alan is turning himself into a planner, something he painfully is not.

  5. #80
    Disgruntled Optimist lofter1's Avatar
    Join Date
    Jun 2005
    Location
    NYC - Downtown
    Posts
    32,654

    Default

    Gerson can be a real idiot when trying to protect both of his asses.

    I'm crazy for the tower design. However I have a big problem with a tower of that size on the piers in such close proximity to the Brookllyn Bridge. I'd not want to see it interfere with the vista towards the Bridge from the waterfront (although the elevated FDR already ruins that vista to a big degree).

    Of course it's possible that in the future the Brooklyn Bridge will be surrounded by towers jutting out into the river and the Bridge will become just another grand old structure overtaken by new and bigger buildings (such as many of the classic downtown skyscrapers have become). But I'd rather that it doesn't happen while I'm around to witness it.

  6. #81
    Forum Veteran
    Join Date
    Oct 2006
    Location
    Battery Park City
    Posts
    1,199

    Default

    Posted: Friday, 19 December 2008 11:06AM

    Mall Owner to Sell South Street Seaport

    NEW YORK (AP) -- General Growth Properties says it is putting South Street Seaport in New York City up for sale.
    New York brokerage DTZ Rockwood LLC said on its Web site Thursday it has been retained to market the Festival Marketplace portfolio, which includes Baltimore's Harborplace & The Gallery, the South Street Seaport and Boston's Faneuil Hall.

    The Baltimore properties were developed by Rouse Co. General Growth took over all of Rouse's assets as part of a $7.2 billion acquisition in 2004.
    GGP spokesman David Keating said in an e-mailed statement the sale is part of the company's effort to reduce debt.

    On Wednesday, GGP said lenders had agreed to a two-month extension on $900 million of debt service.

  7. #82
    Disgruntled Optimist lofter1's Avatar
    Join Date
    Jun 2005
    Location
    NYC - Downtown
    Posts
    32,654

    Default

    No real surprise ^ as the current owner of the SSS, General Growth Properties, is basically dead in the water.

    Their stock has dropped from 44.23 (May '08) to 1.56 (today) -- which beats last month's rock bottom price of 0.24 (November 12).

  8. #83

    Default

    December 19, 2008, 4:47 pm

    South St. Seaport Is Among Tourist Markets for Sale

    By Charles V. Bagli


    Owners of the South Street Seaport have put the Lower Manhattan property on the market, saying that it was “seeking partners, investors or buyers.”
    (Photo: Todd Heisler/The New York Times)

    General Growth Properties, the nation’s second largest mall operator, is putting the South Street Seaport in Lower Manhattan up for sale, along with Harborplace in Baltimore and Faneuil Hall in Boston.

    The company, which is struggling and billions of dollars in debt, said on Friday that it was looking at its options for the three popular tourist markets. This year, the company unveiled a billion-dollar plan for the redevelopment of the South Street Seaport, which embraces several historic, cobblestoned blocks.




    The financially strapped General Growth Properties is offering Harborplace in Baltimore, top, and Faneuil Hall in Boston for sale, as well as the South Street Seaport in New York. (Photos: Steve Ruark for The New York Times, top; Michael Dwyer/Associated Press)

    “South Street Seaport is among a group of properties for which General Growth is seeking partners, investors or buyers,” Jim Graham, a spokesman for General Growth, said in a statement released on Friday. “We intend to continue working with the city of New York on a plan for the property’s development that they and the community will embrace.”

    In October, the Bloomberg administration picked a consortium led by General Growth to develop a 1.7 million-square-foot project in East Harlem that includes office and retail space, a hotel, cultural center and apartments. Mr. Graham said that the company still “looked forward to playing a role in the future of Harlem.”

    But real estate executives say that the company has been offering to sell its position in the project.

    “I can’t speak to that,” Mr. Graham said. “There’s no change in our status at this time.”

    General Growth, which operates more than 200 malls in 44 states, has been laboring under heavy debts, including $900 million that was due by the end of the year. But with the credit markets largely frozen, General
    Growth like many other companies has found it virtually impossible to refinance its debt. This week, a group of lenders agreed to extend the deadline for repayment of a past due $900 million loan until Feb. 12.
    Andrew Brent, a spokesman for Mayor Michael R. Bloomberg, said on Friday:
    We remain committed to the redevelopment of the Seaport, whether with General Growth Properties and new partners or with a different firm altogether should the property be sold.

    The company has indicated its preference is to stay with the project given its unique location and significant potential. General Growth is a non-lead party in a multi-entity development partnership that is building the East Harlem Media, Entertainment and Cultural Center. We are confident the project will continue to move forward, and we have established project milestones and financing requirements to ensure it does.

    http://cityroom.blogs.nytimes.com/20...kets-for-sale/

    Copyright 2008 The New York Times Company

  9. #84

    Default Vision for a New Esplanade Near Seaport

    April 15, 2009, 6:01 pm

    Vision for a New Esplanade Near Seaport

    By Patrick McGeehan

    New York City Economic Development Corporation
    A vision for a new esplanade calls for new uses of space under the Franklin D. Roosevelt Drive along the East River waterfront.

    Seven years after Mayor Michael R. Bloomberg laid out his plans for redeveloping a two-mile stretch along the East River waterfront of Lower Manhattan, city officials are taking the first steps toward developing an esplanade near the South Street Seaport.

    This week, the city’s Economic Development Corporation began soliciting ideas and expressions of interest in a pavilion planned for an empty space beneath the elevated Franklin D. Roosevelt Drive at Maiden Lane. The glass-walled structure is intended to be the first of several pavilions to be built along the riverfront in the financial district.

    It could house a cafe, a bike rental shop or some other use that would “activate the esplanade and enhance the waterfront experience for the community,” according to the soliciting document [pdf]. The development corporation is looking for “financially feasible and economically viable” proposals that would produce enough revenue to help cover the costs of maintaining the area.

    The esplanade construction project, which is scheduled to get under way this spring, is expected to cost $148 million. Most of the money — $138 million — is coming from a federal community development block grant through the Lower Manhattan Development Corporation. Another $10 million will come from the Federal Highway Administration, according to the development corporation.

    http://cityroom.blogs.nytimes.com/20...-near-seaport/

    Copyright 2009 The New York Times Company

  10. #85

    Default

    General Growth files for bankruptcy protection

    By Ilaina Jonas and Emily Chasan Ilaina Jonas And Emily Chasan, April 16, 2009.

    NEW YORK (Reuters) – General Growth Properties Inc, the second largest U.S. mall owner, filed for bankruptcy protection on Thursday in one of the biggest real estate failures in U.S. history.

    Ending months of speculation, the Chicago-based mall owner, which listed total assets of $29.56 billion and total debts of $27.29 billion, sought Chapter 11 bankruptcy protection from creditors along with 158 of its more than 200 U.S. malls, while it seeks to restructure some of its debt.

    Since November, General Growth has warned that it may have to seek protection from its creditors when it was unable to refinance maturing mortgages.

    The company said in a statement that it planned to continue exploring strategic alternatives during the bankruptcy protection, from which it is seeking to emerge as quickly as possible through a reorganization that preserves its national business.

    General Growth's filing in the U.S. bankruptcy court in Manhattan makes it one of the largest nonfinancial companies to succumb to the financial crisis in the U.S.

    Before the bankruptcy protection filing, the company had defaulted on several mortgages as well as a series of bonds. It has also put several of its flagship properties up for sale.
    Analysts and other real estate experts have speculated that mall owners Simon Property Group Inc and Westfield Group would be interested in buying some of General Growth's assets from bankruptcy.

    General Growth has been generating enough cash flow for the company to pay monthly interest costs and expenses, but it has been unable to refinance the principal of loans and mortgages as they come due because banks and other financing sources have been reluctant to issue large mortgages and loans.

    "Our core business remains sound and is performing well with stable cash flows," General Growth Chief Executive Adam Metz said in a statement.

    "While we have worked tirelessly in the past several months to address our maturing debts, the collapse of the credit markets has made it impossible for us to refinance maturing debt outside of Chapter 11."

    General Growth has received a commitment for a debtor-in-possession financing facility of about $375 million from Pershing Square Capital Management LP, as agent.
    The hedge fund run by William Ackman also owns about 25 percent of General Growth shares.

    Ackman, who has been urging General Growth to file for bankruptcy protection, described it as "a great company" with "phenomenal assets" at a conference on April 2.
    At the end of 2008, about $15.17 billion of General Growth's debt was comprised of mortgage loans that had been securitized into commercial mortgage-backed securities, according to research firm Trepp.

    "This underscores that real estate companies are most vulnerable to refinancing risk rather than market risk," said Nomura's London-based property analyst Mike Prew. "The U.S. insolvency process is, we think, a cure for General Growth's liquidity problems, which stem from external factors, and not a traditional bankruptcy per se."

    Shares of General Growth have deteriorated as the credit crisis worsened. They closed at $1.05 in the United States on Wednesday, making the company's market capitalization $283.90 million, down from $11.l8 billion when it traded at a 12-month high of $44 in May.

    So far, fallout from the General Growth bankruptcy has not hit European mall owners. Europe's biggest mall owner, Unibail Rodamco, was trading up 2 percent at 118.69 euros, while Anglo-French retail specialist Hammerson edged up 0.2 percent to trade at 307.75 pence.

    HIGH QUALITY MALLS AND TENANTS

    The Chicago-based company started when brothers Martin and Matthew Bucksbaum decided to expand the family grocery business and build a shopping center in Cedar Rapids, Iowa, in 1954.

    It grew by new development as well as by acquisitions, the largest being the 2004 purchase of Rouse Cos for $14.2 billion. Rouse brought the company 37 of the highest-quality and most valuable malls in the country, including Fashion Show in Las Vegas and Faneuil Hall Marketplace in Boston.

    General Growth's refinancing troubles in the frozen credit markets led to the firing of former Chief Financial Officer Bernard Freibaum in October. John Bucksbaum, who succeeded his father Matthew in 1999, stepped down as chief executive the same month, although he remained chairman.

    In recent months, the new management team under Metz has been wrestling with loan after loan coming due, bargaining for extensions. As of the end of 2008, General Growth had $1.18 billion in past due debt and an additional $4.09 billion of debt that could be accelerated by its lenders.

    Earlier this month, the company had been seeking to restructure $2.25 billion of Rouse bonds, offering bondholders a percentage on their bonds if they allowed the company to skip interest payments and principal until the end of the year. But the company failed to garner the necessary support it needed.

    General Growth said several of its other subsidiaries in addition to the malls were also placed into bankruptcy protection, while several properties that are part of joint ventures were unaffected.

    The company has hired law firms Weil Gotshal & Manges and Kirkland & Ellis to represent it, according to court papers.

    The case is In re: General Growth Properties Inc, U.S. Bankruptcy Court, Southern District of New York, No. 09-11977.

    (Reporting by Ilaina Jonas, Emily Chasan and Sinead Cruise in London; editing by Elaine Hardcastle and Lisa Von Ahn)

  11. #86

    Default

    Bankruptcy Unlikely to Shut the South Street Seaport

    Fred R. Conrad/The New York Times
    The owner of the South Street Seaport filed for bankruptcy protection on Thursday.

    By CHARLES V. BAGLI
    Published: April 17, 2009

    The South Street Seaport, the city’s 19th-century historic district, will remain open, unaffected by its operator’s bankruptcy in a huge commercial real estate collapse, according to city officials and the operator, General Growth Properties.

    Shoppers at General Growth’s Staten Island Mall will also be unlikely to notice any difference as a result of General Growth’s filing for bankruptcy protection on Thursday.

    But the company, the country’s second-largest mall operator, is struggling under $27 billion in mostly short-term debt and is not rushing forward with its redevelopment plan for the South Street Seaport or with a planned $700 million project in East Harlem.

    “Our goal is to get through this bankruptcy process and have a really strong enterprise,” said Adam Metz, the chief executive of General Growth, which is based in Chicago. It hopes to reduce its debt and reorganize, rather than go out of business. “We think South Street is terrific, but ultimately, it has to make good business sense.”

    The company operates more than 200 malls in 44 states. It has been severely hobbled during the recession by its inability to refinance its debt, much of it accumulated during a buying spree at the height of the market.

    In 2004, the company paid $12.6 billion to acquire the Rouse Company, another mall operator, which owned the South Street Seaport and Faneuil Hall Marketplace in Boston.

    General Growth has been negotiating with its lenders for months in an attempt to reorganize its debts. But with the credit markets essentially frozen, the company ran out of options.

    It said on Thursday that it had obtained a commitment for $375 million in bankruptcy financing from Pershing Square Capital Management.

    Last year, General Growth unveiled an ambitious plan to redevelop the seaport and its mix of former countinghouses and other 200-year-old commercial buildings that line cobblestone streets south of the Brooklyn Bridge.

    Although the area, which also includes a 1980s-era mall on Pier 17, attracts office workers during lunchtime and tourists in warm weather, South Street has never been a retail powerhouse.

    General Growth’s proposal for a 42-story apartment building for the low-rise district , as well as a hotel and a new two-story retail mall on Pier 17, drew criticism from the Landmarks Preservation Commission and the City Planning Department.

    The company had hoped to revise its plans later this year and formally begin the city’s review process.

    “It has great potential to be something fabulous,” Mr. Metz said. “We’re trying to figure out what makes most sense and what’s the right timing.”

    In December, General Growth put South Street Seaport and two other well-known properties — Faneuil Hall Marketplace and the Inner Harbor marketplace in Baltimore —up for sale. But with retail sales down sharply, there were no attractive offers.

    Even after the company ran into financial trouble, the city selected a development team led by General Growth in October to build the $700 million East Harlem Media, Entertainment and Cultural Center on 125th Street in Harlem.

    Seth Pinsky, president of the New York City Economic Development Corporation, said that the company had since taken a less-prominent role in the project. He said that its first phase was centered on housing, although the project’s residential developer, Archstone, also has financial problems.

    “Long-term, there’s great opportunity there,” Mr. Metz said. “When that happens exactly, I can’t tell you.”

    http://www.nytimes.com/2009/04/17/ny...l?ref=nyregion

    Copyright 2009 The New York Times Company

  12. #87

    Default New Esplanade Near Seaport

    Volume 21, Number 51 | The Newspaper of Lower Manhattan | May 8 - 14, 2009
    Downtown Express photo by Elisabeth Robert
    East River jogger runs past the buses.

    With no place to move buses, city slows waterfront project

    By Julie Shapiro

    Tribecans breathed a collective sigh of relief last month when the city backed off its plan to dump 18 buses on West St., but the problem is far from solved.

    In fact, the problem may be bigger than the community realized. The city Dept. of Transportation is still struggling to find an acceptable spot to park the 18 buses, but they will also have to find room soon for an additional 74 buses, bringing the total to 92 buses that need a home.

    The 92 commuter and tour buses currently park beneath the F.D.R. Dr., where work on the East River Waterfront is about to start. As construction on the esplanade moves forward over the next couple years, all 92 buses will have to move.

    FULL ARTICLE Downtown Express

  13. #88
    Moderator NYatKNIGHT's Avatar
    Join Date
    Oct 2002
    Location
    Manhattan - South Village
    Posts
    4,240

    Default

    Hard to believe there's absolutely no place else to move the buses. Really, nowhere? It has to be downtown Manhattan? They all have to park together? You would think the airports have some outer lot that could be used. I wonder where they parked before they were under the FDR.

    So they have been planning this esplanade for years and are just now getting around to the question of where to relocate the buses. Typical.

  14. #89

    Default

    Not sure, but I think Downtown Manhattan is the only major CBD without either a bus garage or bus station.

    That's the only permanent solution, and there's really only one place, the BBT parking garage.

  15. #90
    NYC Aficionado from Oz Merry's Avatar
    Join Date
    Oct 2002
    Location
    Australia
    Posts
    7,478

    Default

    Emerging from bankruptcy, firm revives Seaport tower talk

    By Julie Shapiro



    General Growth Properties is emerging from bankruptcy and is looking to resurrect its plans to redevelop the South Street Seaport.

    Before declaring bankruptcy in April 2009, General Growth intended to demolish the Pier 17 mall and replace it with a new hotel and retail complex, including a 500-foot tower. The company’s $27 billion in debt, along with the city Landmarks Preservation Commission’s dislike of the designs, put those plans on hold indefinitely.

    But that could be changing now that G.G.P. has submitted a reorganization plan based on a $6.55 billion investment from Brookfield Asset Management, Pershing Square Capital Management and Fairholme Capital Management.

    As part of that plan, G.G.P. would divide into two companies: General Growth Properties would retain most of the company’s core asset, its shopping malls, while a new company, General Growth Opportunities, would take the mixed-use properties and those with future development potential. The South Street Seaport mall would become part of General Growth Opportunities, suggesting that the new company would seek to redevelop it.

    “It is an unusual property because of its location and the visitor experience there,” said Jim Graham, corporate spokesperson for G.G.P. “And it has such potential — what we’ve been talking about the last couple years — for developing a hotel and residential [units]…. That’s why it would go to General Growth Opportunities.”

    That new company would ultimately decide the future of the South Street Seaport. Of the nine directors of the G.G.O. board, three would come from Brookfield and two would come from Pershing, a hedge fund with a large ownership stake in the Target retail chain. Graham said he would expect the chairperson and C.E.O. of the new company to come from General Growth Properties, and he thinks the new board would likely pick up the plans G.G.P. had for the Seaport.

    “Presumably the new company would continue to pursue the highest, best use of that property, which we felt was the proposal we put out,” Graham said in a phone interview this week.

    In addition to demolishing the Pier 17 mall, G.G.P. planned to restore the historic Tin Building and move it from the pier’s base to its tip; add a boutique hotel, retail and open space to the pier; and build a 500-foot hotel and condo tower just north of the pier.

    The city Landmarks Preservation Commission panned the project at a hearing in November 2008, calling the new 120-foot-tall retail buildings “inappropriate” and opposing the Tin Building’s move. The commission did not formally vote against the project but asked G.G.P. to return with revisions. Before G.G.P. could do so, the company declared bankruptcy and shelved the plan.

    The development proposal divided Community Board 1, with many members opposing the height of the tower, which is outside of the South Street Seaport Historic District and is not under the L.P.C.’s purview. C.B. 1 ultimately supported the parts of the project within the historic district, but the board reserved the right to object to the plans later during the land-use review. C.B. 1 Chairperson Julie Menin said in 2008 that she would not support the land-use application unless G.G.P. added a school to the plans.

    G.G.P.’s bankruptcy exit proposal, unveiled March 31, requires court approval and is not final. Another company, such as the Simon Property Group, which has expressed interest in the past, could still make an offer.

    The current deal would give Brookfield, Pershing and Fairholme a combined 65 percent stake in General Growth, which they are buying at $15 a share. Brookfield previously bought nearly $1 billion of G.G.P.’s outstanding debt.

    If the deal goes through, Brookfield will have a large stake in two shopping centers Downtown just a few blocks apart: Brookfield Properties, a subsidiary of Brookfield Asset Management, already owns the World Financial Center in Battery Park City.

    “This could be a match made in heaven,” said Faith Hope Consolo, a New York retail broker. “Brookfield knows Downtown intimately…. It’s a great fit.”
    Consolo said the Seaport and the Winter Garden are so different that they would not compete — the Seaport caters to tourists while the World Financial Center shops are mostly targeted to office workers, she said.

    Katherine Vyse, spokesperson for Brookfield Asset Management, declined to comment on specific properties but said General Growth is “an attractive company with strong assets” and Brookfield is pleased to have the opportunity to invest in it.

    http://downtownexpress.com/de_363/emerging.html

    http://ny.curbed.com/archives/2010/0...be_revived.php

Page 6 of 10 FirstFirst ... 2345678910 LastLast

Similar Threads

  1. Greenways and Waterfront Development
    By Edward in forum New York City Guide For New Yorkers
    Replies: 198
    Last Post: July 21st, 2015, 01:30 AM
  2. Is the South Bronx Hip?
    By ASchwarz in forum New York City Guide For New Yorkers
    Replies: 28
    Last Post: March 16th, 2015, 09:58 PM
  3. DUMBO - Neighborhood on Brooklyn waterfront
    By Edward in forum New York City Guide For Visitors
    Replies: 18
    Last Post: September 26th, 2010, 02:53 PM
  4. Barretto Point Park in the South Bronx
    By Edward in forum New York City Guide For New Yorkers
    Replies: 5
    Last Post: January 4th, 2008, 01:02 AM
  5. Fade to Black - Neighborhood movie theaters
    By Kris in forum New York City Guide For New Yorkers
    Replies: 2
    Last Post: August 5th, 2003, 12:11 PM

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


Google+ - Facebook - Twitter - Meetup

Edward's photos on Flickr - Wired New York on Flickr - In Queens - In Red Hook - Bryant Park - SQL Backup Software